Home      Login


Recent Research in Public Finance: The Impact of Financial Advisor Independence on Issuer Interest Cost  


Author:  William P. Kittredge.


Source: Volume 24, Number 02, Summer 2003 , pp.63-72(10)




Municipal Finance Journal

< previous article |next article > |return to table of contents

Abstract: 

Municipal debt represents a significant commitment of each issuer’s future resources and a reduction in fiscal flexibility until the debt is retired.This is true regardless of the absolute size of the issue. Interest cost minimization is important to all municipal bond issuers. This article asks whether having an independent financial advisor reduces issuers’ interest costs. This article is based on his presentation in the panel on New Research Findings in Public Finance at the National Association of Independent Public Finance Advisors (NAIPFA) Annual Conference in San Francisco, October 2–4, 2002.

Keywords: 

Affiliations:  1: University of Georgia.

Subscribers click here to open full text in PDF.
Non-subscribers click here to purchase this article. $25

< previous article |next article > |return to table of contents